Financial Sector Losers: Investors Bancorp (NASDAQ:ISBC), PennyMac Mortgage Investment Trust (NYSE:PMT), Western Asset Mortgage Capital (NYSE:WMC), Doral Financial (NYSE:DRL)

Posted by on May 09, 2014

Investors Bancorp, Inc. (NASDAQ:ISBC) announced the completion of its conversion from the mutual holding company structure and related public offering. Investors Bank is now 100% owned by New Investors Bancorp and New Investors Bancorp is 100% owned by public stockholders. New Investors Bancorp sold a total of 219,580,695 shares of common stock at a purchase price of $10.00 per share in the offering. In connection with the completion of the conversion and stock offering, New Investors Bancorp changed its corporate name to Investors Bancorp, Inc. Investors Bancorp, Inc. (NASDAQ:ISBC) net profit margin is 25.50% and weekly performance is -0.95%. On last trading day company shares ended up $10.42. Analysts mean target price for the company is $28.23. Investors Bancorp, Inc. (NASDAQ:ISBC) distance from 50-day simple moving average (SMA50) is -61.35%.

PennyMac Mortgage Investment Trust (NYSE:PMT) reached a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings,Stock Ratings Network reports. PennyMac Mortgage Investment Trust (NYSE:PMT) shares fell -7.54% in last trading session and ended the day on $21.57. Gross Margin is 53.90% and its return on assets is 6.70%. PennyMac Mortgage Investment Trust (NYSE:PMT) quarterly performance is -5.19%.

Western Asset Mortgage Capital Corporation (NYSE:WMC) reported its results for the first quarter ended March 31, 2014. These results reflect the strategic decision by the Company to diversify its portfolio away from a pure Agency REIT and move toward a more “hybrid” REIT model. Actions taken by the Company in order to implement this strategy had a negative impact on both operating results for the period and book value as of March 31, 2014. The Company, which previously declared a $0.67 per share dividend for the quarter, recorded a GAAP net loss of $8.4 million, or $0.32 per basic and diluted share for the first quarter ended March 31, 2014. Western Asset Mortgage Capital Corp (NYSE:WMC) shares moved down -6.61% in last trading session and was closed at $13.70, while trading in range of $13.58- $14.19 -. Western Asset Mortgage Capital Corp (NYSE:WMC) year to date (YTD) performance is -3.93%.

Doral Financial Corp. (NYSE:DRL) the holding company for Doral Bank, which has operations in the United States and Puerto Rico, announced that it is in the process of developing a revised capital plan intended to enable the Company to remain in compliance with the requirements of its regulators. Among other things, this revised plan is intended to address a recent determination by the Federal Deposit Insurance Corporation (the “FDIC”) regarding the treatment of tax receivables from the Government of Puerto Rico, which represent approximately 43% of its assets. Doral Financial Corp. (NYSE:DRL) ended the last trading day at $1.90. Company weekly volatility is calculated as 47.69% and price to cash ratio as 0.02. Doral Financial Corp. (NYSE:DRL) showed a negative weekly performance of -80.65%.

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